Are you aware that the rise in global VPN usage has skyrocketed? The reasons are clear as day: Virtual Private Networks offer increased security, anonymity, and allow access to geo-restricted content online. But here’s the million-dollar question: Are all VPNs created equal?
The answer is a resounding no. And that has potential implications for your business.
Free VPNs, although tempting with their zero-cost allure, aren’t always what they promise to be. Why, you ask? Let’s take a closer look at free VPN services.
For starters, it’s important to understand that running a VPN service comes with substantial costs. Servers, infrastructure, maintenance, staff – these aren’t free. So how do free VPN providers keep the lights on? Some employ tactics that could compromise your privacy and security.
Imagine this: You’re sipping your morning coffee, browsing the net through a free VPN, believing your online activities are private. In reality, your sensitive information might be collected and sold to the highest bidder. Cybercriminals, advertisers, and even government agencies could potentially get their hands on your data. Shocking, isn’t it?
Moreover, free VPNs are notorious for injecting unwanted ads and tracking cookies into your browsing sessions. Ever wondered why you’re suddenly bombarded with eerily accurate ads? It’s probably your free VPN service cashing in on your browsing habits.
Now, consider the potential danger if an employee downloads a free VPN on a company device, or on their personal device that they use for work. Company data could be exposed, representing a significant business risk. Picture a scenario where your company’s sensitive data falls into the wrong hands – a chilling thought, isn’t it? So, what’s the solution?
It’s crucial to educate your employees about the risks associated with free VPNs. Encourage the use of reliable, paid VPN services that guarantee no logging of data, robust encryption, and superior user privacy. In fact, you may choose to provide one to them. If we can help you find the safest, most suitable VPN for your business, get in touch.
Remember, when it comes to online security, free often comes at a higher cost. Isn’t it worth investing a few $$ a month to protect your company’s valuable information?
In the fast evolving world of technology, business owners and managers like you are always on the lookout for the next big thing to give them a competitive edge.
Have you considered how AI tools might be able to help?
ChatGPT – or Generative Pretrained Transformer, if you want to get technical – has been making big waves all year. It’s an AI model developed by OpenAI that’s designed to generate human-like text based on the prompts it’s given. Think of it like having a professional writer at your beck and call, ready to generate content, answer queries, or even draft emails whenever you need.
Lots of other AI models have also been released, including one from Google called Bard. Unlike ChatGPT, Bard can browse the web for its answers (you can do this in ChatGPT, but you must be a paying Plus subscriber and have switched on web browsing in the settings).
Some businesses are already using AI tools, mainly for customer service and content creation. That’s like buying a Ferrari just to drive to the grocery store. They can do so much more!
Here are three of the other ways an AI tool can turbocharge your business…
Stay ahead with trend detection: Remember the feeling when you realized too late that the last ‘big thing’ could’ve been a gold mine? With an AI tool, you’ll be the one setting the trends, not following them. Simply ask it to “Provide a short analysis of the latest [insert your industry] trends”, and you’re armed with powerful knowledge.
Enhance productivity with keystone habits: Increased productivity is the holy grail for any business owner. With an AI tool, you can tap into cutting-edge research to supercharge your work habits. Just ask for the “top 5 latest ways to [improve a specific area]”. We bet you spot a new idea you’d never thought of.
Make better decisions with summaries of complex events: Ask your tool to explain [something complex] to a 12 year old… that’s a clever way to get a summary anyone can understand.
ChatGPT, Bard and all the others are more than just AI writing assistants… they’re your secret weapon in the business world. It’s time to stop using your Ferrari just for the grocery runs and start taking it for a real spin.
If we can help you use AI more in your business, get in touch.
Have you heard the saying, “A picture is worth a thousand words”? It seems cybercriminals have too, and they’re using it to their advantage.
In a new twist on phishing campaigns, cybercriminals are luring victims to click on images rather than downloading malicious files or clicking suspicious links.
Let’s dive into the warning signs, so you can keep your business safe from these sneaky attacks. First things first, what’s the big deal about clicking on an image? It might be promoting a killer deal or a one-time offer. But when you click on the image, you don’t go to the real website. Instead, it’s a fake site designed to steal your personal information. Imagine being lured in by a cute cat photo only to find out that Mr. Whiskers was actually a wolf in sheep’s clothing! Not so cute anymore, right?
So, how can you tell if an image is part of a phishing campaign? Here are some warning signs to look out for:
Unexpected emails: Did you receive an email from someone you don’t know or weren’t expecting? Be cautious! It’s like accepting candy from a stranger – you never know what you’re getting yourself into.
Too good to be true: If an email promises you a free vacation or a million dollars just for clicking on an image, remember the golden rule: if it sounds too good to be true, it probably is.
Spelling and grammar mistakes: We all make typos, but if an email is riddled with errors, it could be a sign that something is going on.
Mismatched logos or branding: If an email claims to be from a reputable company but the logo or branding doesn’t match up, assume it’s a scam.
Now that you know what to look for, let’s talk about how to protect your business from these image-based phishing attacks:
Educate your employees: Knowledge is power! Make sure your team is aware of the latest phishing tactics and knows how to spot the warning signs.
Keep software up-to-date: Just like you wouldn’t drive a car with bald tires, don’t let your software become outdated. Regular updates help patch security vulnerabilities that cybercriminals might exploit.
Use strong passwords: It might be tempting to use “password123” for all your accounts, but resist the urge! A strong, unique password for each account can help prevent unauthorized access. Using a password manager is even better.
Enable multi-factor authentication (MFA): MFA adds an extra layer of security by requiring people to verify their identity through another method, such as a text message or fingerprint scan.
Backup your data: In case disaster strikes, make sure you have a backup of all your files. That way, you won’t be left high and dry if your data is compromised.
Whilst cyber criminals are getting smarter and smarter with their tactics, there’s no need to panic. By being aware of the warning signs and taking proactive steps to protect your business, you can stay one step ahead of these digital tricksters.
Remember, not all that glitters is gold – or in this case, not every cute cat picture is just a cute cat picture. Stay vigilant, and don’t let the scammers win!
How many times a day do you respond to an email without really thinking about its contents?
Maybe it’s a request for some information. Perhaps it’s asking you to pay an invoice. All mundane stuff. But no sooner than you’ve hit send, you’ve fallen victim to a Business Email Compromise (BEC) attack.
A BEC attack occurs when a cybercriminal gains access to your business email account and uses it to trick your employees, customers, or partners into sending them money or sensitive information. They do this by impersonating someone senior and abusing their position of trust.
It might sound like something that only happens to big corporations, but that’s not the case.
According to the FBI, small and medium-sized businesses are just as vulnerable to BEC attacks as larger ones. In fact, these attacks have cost businesses more than $26 billion over the past few years.
And Microsoft brings more bad news, with its recent findings showing that they’re getting both more destructive and harder to detect.
So, what can you do to protect your business from BEC attacks? Here’s our advice:
Educate your employees: They are the first line of defense against BEC attacks. They need to know how to spot phishing emails, suspicious requests, and fake invoices. Train them regularly on cyber security best practices, like strong passwords, multi-factor authentication, and secure file sharing.
Use advanced email security solutions: Basic email protections like antispam and antivirus software are no longer enough to block BEC attacks. You need more advanced solutions that use artificial intelligence and machine learning to detect and prevent these attacks in real time. Look for email security providers that offer features like domain-based message authentication, reporting, and conformance (DMARC), sender policy framework (SPF), and DomainKeys Identified Mail (DKIM).
Set up transaction verification procedures: Before transferring funds or sensitive information, establish a verification process that confirms the authenticity of the request. This could include a phone call, video conference, or face-to-face meeting. Don’t rely on email alone to confirm these types of requests.
Monitor your email traffic: Regularly monitor your email traffic for anomalies and unusual patterns. Look for signs like unknown senders, unusual login locations, changes to email settings or forwarding rules, and unexpected emails. Make sure you have a clear protocol in place for reporting and responding to any suspicious activity.
Keep your software up to date: Ensure that you’re always running the latest version of your operating system, email software, and other software applications. These updates often include vital security patches that address known vulnerabilities.
BEC attacks are becoming more common and more sophisticated, but with the right awareness, training, and security solutions, you can protect your business.
Don’t wait until it’s too late – take action today to keep your business safe.
If you want to know more about how to protect your business from cyber threats, our team is always ready to help you. Give us a call.
The internet has become indispensable to modern businesses, and registered investment advisory (RIA) firms are no exception. The internet offers a wealth of information, communication, and networking opportunities that can greatly benefit RIA firms in terms of efficiency and productivity. However, the internet also poses potential risks for RIAs, including data breaches, cyberattacks, and inappropriate online behavior.
To mitigate these risks and ensure the responsible and productive use of the internet, it is crucial for your RIA or financial advisory firm to implement a comprehensive internet usage and monitoring policy. This policy should not only outline guidelines for employees on how to use the internet for work-related purposes but also provide measures for monitoring and enforcing compliance.
Essential components of an internet usage and monitoring policy
While the specific details may vary depending on the nature and size of your RIA firm, a comprehensive internet usage and monitoring policy should include the following key components:
Purpose and scope – This section should outline the purpose of the policy and specify which employees or divisions it applies to. For example, your policy may include provisions for full-time and part-time employees, contractors, and interns. It should also identify which devices and networks are covered, such as company-owned computers and Wi-Fi networks.
Acceptable use – This part should define what constitutes acceptable use of the internet for work-related purposes. It may include guidelines on appropriate websites and applications to access, email usage, social media policies, and online communication protocols. Be specific and avoid vague language to ensure clarity and avoid misinterpretation.
Prohibited activities – It is equally important to outline what is not allowed when using the internet for work purposes. This may include accessing certain websites or types of content that are deemed inappropriate, engaging in online gambling or illegal activities, and sharing confidential information on public networks.
Personal use – It may not always be feasible or desirable to completely restrict personal internet usage at work, which is why this section should clarify the extent to which employees are allowed to use company resources for personal purposes. For example, you may allow limited personal use during breaks or specify which non-work-related websites or applications your team can access.
Monitoring – Here, you should clearly state the methods and tools your firm will use to monitor employee internet usage, such as network monitoring software or periodic audits. Be transparent about the purpose and scope of monitoring; emphasize that monitoring is not meant to invade employees’ privacy but to ensure compliance with the policy and protect the firm from potential threats.
Consequences of noncompliance – To ensure that employees take the policy seriously, it is crucial to outline the consequences of violating it. Consequences may include verbal or written warnings, suspension or termination of employment, and legal action if necessary.
Review and updates – Your policy should also specify how often it will be reviewed and updated to reflect changes in technology, regulations, or company policies. It is vital to regularly review and update the policy to ensure it remains effective and relevant.
Acknowledgement and consent – The final yet most critical component of your internet usage and monitoring policy is the employee’s acknowledgement and consent. You may ask them to sign an agreement form or provide a digital signature to indicate that they have read and understood and agree to comply with the policy. This not only ensures that employees are aware of the policy, but also helps protect your firm in case of any disputes.
Importance of a comprehensive internet usage and monitoring policy
A well-crafted internet usage and monitoring policy can provide numerous benefits for your RIA firm, including:
Safeguarding sensitive information – With the rise of cybercrime, a comprehensive policy can help protect your firm’s sensitive data and client information from potential breaches or leaks.
Maintaining productivity – A clear and concise policy helps ensure that employees do not waste time on non-work-related internet activities, thus improving productivity. It can also prevent the misuse of company resources, such as bandwidth and storage.
Ensuring compliance with laws and regulations – RIAs are subject to various regulations and laws, such as the Securities and Exchange Commission’s cybersecurity guidelines. A comprehensive policy can help your firm adhere to these requirements and avoid any potential legal issues.
Protecting your firm’s reputation – Inappropriate online behavior or activities by employees can reflect poorly on your RIA and damage its reputation. An effective internet policy can prevent such incidents and maintain a positive image for your firm.
Fostering a culture of responsible internet usage – By clearly communicating expectations and consequences, a policy can promote responsible internet usage among employees and create a culture of cybersecurity awareness in the workplace.
Transparency, understanding, and mutual agreement: The pillars of an effective policy
To be truly effective, an internet usage and monitoring policy should be transparent, clearly understood by employees, and agreed upon by all parties involved. This can be achieved through open communication, regular training and education on cybersecurity practices, and involving employees in the development and review of the policy.
By fostering a culture of transparency, understanding, and mutual agreement, your RIA firm can effectively monitor and enforce compliance, safeguard sensitive information, and maintain a productive and secure workplace. If you’re looking to create an effective internet usage and monitoring policy for your RIA firm, RIA WorkSpace is here to help. Our team of experts specializes in assisting RIA and financial advisory firms like yours with all things IT. From creating policies and procedures to implementing cybersecurity measures, we can help you protect your firm and clients from potential cyberthreats. Contact us today to learn more about our services.
Numerous regulations exist in the world of RIA compliance — the fiduciary responsibilities, best practices, and continually updated standards that all registered investment advisors (RIAs) must follow. Your RIA or financial advisory firm must be mindful of these regulations, making sure you are both aware of and keeping up with the latest industry updates.
Your IT provider can play a key role in helping you keep on top of RIA compliance. They can offer the expertise and resources to ensure your technology is up to date and secure, as well as manage risks in various areas of your business.
What your IT provider should do
Your IT provider should play an active role in helping you understand the current regulations and implement appropriate technology solutions. In particular, they should be able to do the following:
Understand the IT requirements of the SEC
The Securities and Exchange Commission (SEC) has a number of IT requirements that RIAs must strictly adhere to. These include the use of secure storage systems, encryption of sensitive data, and retention of data for a specified time.
A good IT provider will be familiar with the SEC’s requirements and be able to help you understand your obligations. They should also be able to provide guidance on how to configure and use technology in order to comply with these regulations.
Remain up to date on SEC changes
The SEC regularly updates its regulations, introducing new or revised guidelines and requirements. Your IT provider should be proactive in monitoring these changes and informing you about how they might affect your business. They should also be able to provide strategic advice on how to best prepare and respond to the changes.
Implement technology solutions to help with compliance
Solutions like automated compliance monitoring, document management systems, and data security technologies can all help to ensure that your RIA or financial advisory firm is in compliance with regulations. Your IT provider should be able to advise you on the best solutions for your business and provide technical support in implementing them.
For example, SEC Rule 17a-4 requires firms to store certain records in a non-rewriteable, non-erasable format for a minimum of three years. Your IT provider can help you meet this rule by setting up a secure archiving system with appropriate retention policies.
In addition to implementing the necessary technology solutions to comply with regulations, your IT provider should be able to recommend best practices that protect your RIA firm and its data. These could include setting up secure access controls, using two-factor authentication for logins, or regularly testing and monitoring your systems for security threats.
Another essential best practice is making sure that all staff members are adequately trained on RIA compliance and data security. Your IT provider should be able to provide training resources for this purpose, as well as help you set up internal procedures and processes to ensure that everyone is following the necessary guidelines.
Provide reporting to demonstrate compliance
Finally, your IT provider should be able to provide regular reports that demonstrate your RIA firm’s compliance with regulations. These reports should include details about the security measures you have in place, such as any audit trails or data backup history, as well as the results of any compliance checks that have been performed.
If your IT provider has implemented any specific solutions to help with compliance, such as automated compliance monitoring tools, they should be able to provide detailed reports about the results. This will help you demonstrate to regulators that you are taking steps to meet the necessary standards and remain in compliance.
How RIA WorkSpace can help with RIA compliance
We at RIA WorkSpace have the expertise and resources to help you keep on top of RIA compliance. Our team of experts has extensive experience in building secure IT systems that meet the latest industry standards, as well as providing advice and guidance on best practices for data security.
We also offer a range of technology solutions to help you comply with changing SEC regulations and reduce risk across your business. These include email and document management systems, backup and archiving solutions, and more.
As Microsoft’s latest operating system, Windows 11 brings a host of new features and improvements that can significantly enhance the efficiency and productivity of your registered investment advisory (RIA) firm. From its refined, user-friendly interface to improved security measures, Windows 11 is designed to offer a seamless and secure user experience.
Here are some things that you need to know to get your RIA ready for a Windows 11 upgrade.
The benefits of upgrading to Windows 11
Upgrading to Windows 11 offers a range of benefits for your RIA or financial advisory firm.
Improved performance
Compared to its predecessors, Windows 11’s performance is far superior. Enhanced speed, efficiency, and responsiveness are some of the key performance improvements that enable you to handle tasks more effectively and swiftly. With faster boot times and optimized battery life, your firm can operate smoothly without interruptions.
Enhanced security
Security is paramount in the financial industry. Windows 11 comes with advanced security features, such as hardware-based isolation, encryption, and malware protection, that safeguard your data and devices from potential threats.
User-friendly experience
The user-friendly interface is one of the most noticeable enhancements in Windows 11. It provides a clean, streamlined, and intuitive user experience, making it easier to navigate. The centralized Start menu, the new Snap layouts and groups, and the Direct Access from the lock screen all contribute to a more efficient work environment for your RIA or financial advisory firm.
The challenges of upgrading to Windows 11
While the benefits of upgrading to Windows 11 are numerous, the upgrade also comes with a set of challenges.
Minimum system requirements
Windows 11 requires minimum system specifications to function optimally. Depending on the apps and services you use, you may need additional resources such as RAM or hard drive space to be able to use Windows 11.
Software compatibility
Certain legacy applications or custom software designed for older versions of Windows might not function correctly on Windows 11. It’s therefore crucial to perform comprehensive tests to identify any potential compatibility issues and find suitable solutions before initiating the upgrade. This could involve updating the software, finding alternatives, or even getting patches or version upgrades from software vendors.
To ensure a smooth upgrade, it’s essential to plan and prepare properly. Here are some tips for getting your RIA firm ready for a Windows 11 upgrade.
Back up all data and files
Before initiating the upgrade, make sure that all your data and files are backed up securely on an external storage device or in the cloud. This is to avoid any data loss in case any problems occur during the upgrade process.
Assess existing hardware
Assess whether your existing hardware meets the minimum system requirements for Windows 11. If not, you may need to consider upgrading some components or investing in new devices that are compatible with the operating system.
Review software and applications
Take the time to review each piece of software and application in use by your RIA firm to identify any potential incompatibilities with Windows 11. Look for alternatives, contact vendors for patches or upgrades, and make sure that all the necessary software is ready to be deployed before initiating the upgrade.
Establish a timeline
Once all the preparations are done, it’s important to establish a timeline for the upgrade. This will help you manage the process better and ensure that everyone is on board with the project.
Train your staff
For your staff to get accustomed to Windows 11 quickly, train them beforehand by providing them with resources such as tutorials and user guides. This will help them understand the new system better and minimize disruption to your day-to-day operations.
Evaluate the upgrade
After the upgrade is completed, it’s important to evaluate your RIA firm’s performance and experience with Windows 11. Measure the response times of applications, monitor any new problems that arise, and obtain feedback from your staff to ensure that the upgrade was successful.
If you’re not satisfied with Windows 11, Microsoft allows you to revert to Windows 10. This can be done within 10 days of the upgrade and it allows you to keep all your files and data intact. However, once the 10-day period has elapsed, the process becomes more involved. To revert to Windows 10, you will need to back up all your data and reinstall the operating system from scratch.
Therefore, it’s recommended to evaluate your experience with Windows 11 thoroughly during the initial 10 days to make an informed decision about keeping or reverting the upgrade.
If the process of upgrading your computers to Windows 11 seems overwhelming or confusing, it may be in your best interest to engage a reliable IT provider. A trusted partner such as RIA WorkSpace can oversee the upgrade, ensuring it’s completed correctly and that any potential issues are quickly addressed. This not only saves you time and effort but also ensures the least amount of disruption to your firm’s operations during the transition.
With the right preparation, planning, and support, upgrading to Windows 11 can bring a wealth of benefits to your RIA or financial advisory firm. Reach out to RIA WorkSpace today for more information about how we can help you get started with Windows 11.
Felipe and Charlotte work together at a bustling financial firm. One Friday morning, Charlotte was running late. She was fumbling through her bag, looking for her key card but couldn’t find it. Just as Charlotte was about to give up, she saw Felipe scanning his card at the entrance. Charlotte called out to Felipe, and he held the door open for her. She thanked him and explained that she must have left her key card at home or in the car. Charlotte made it into the office just in time for her big meeting. The rest of the day went by like normal. She never found her key card but decided to figure it out the following week. Unfortunately, the key card had been taken from Charlotte’s unlocked car by a criminal. Later that night, the criminal was able to get into the office. Once they were in, the attacker used log-in credentials left on a sticky note at another employee’s desk and gained access to all the company files and employee information.
Did you spot the red flags?
Felipe let Charlotte “tailgate” by following him into the building without her own key card. This allowed Charlotte to forget about her missing key card instead of resolving the issue immediately.
Charlotte left her car unlocked and another employee left account credentials out for everyone to see. This allowed for company information to fall into the wrong hands.
What you should know about this scam
If you lose a key or any physical credential, notify your company immediately and follow the necessary steps to ensure physical security.
Keep workspaces clean to avoid misplacing important items or documents. Do not keep passwords on sticky notes or in visible places.
In addition to coworkers, tailgaters could be visitors or criminals. Criminals use our tendency to be polite and give people the benefit of the doubt to carry out their attacks. If you do not recognize someone who is trying to tailgate, direct them to the proper sign-in location, or depending on the circumstance, consider asking who or what they are looking for.
When you replace old computers or external drives, do you delete data and then just… get rid of them?
You could be putting your sensitive data at risk. A new study by a data recovery specialist shows that millions of deleted files can be recovered from improperly wiped hard drives that are sold online. It’s not just buyers who can access your old files. Cyber criminals often buy used hard drives and attempt to recover data from them. This could include anything from confidential business information to client details. It’s easy to forget about old data when you’re excited about shiny new technology. However, it’s important to consider what’s on that old drive before selling it or disposing of it. Even if the drive is encrypted, it’s still possible for data to be recovered. And if the drive is damaged, there’s a chance that some of the data is still salvageable. It’s better to be safe than sorry when it comes to sensitive information.
Think about it this way: Would you leave important documents lying around for anyone to see? Of course not! Your digital information deserves the same level of protection. So what can you do to protect yourself?
Don’t let your old hard drives become a liability. Take the time to have them properly wiped or destroyed before disposal. If you’re upgrading hardware, consider hiring a professional to handle the data transfer and ensure that your old devices are wiped clean. This isn’t just about protecting yourself. It’s about protecting your employees, clients, and anyone else whose personal information you may have stored on that old drive. It’s a small investment to make for the peace of mind that comes with knowing your data is safe from prying eyes.
Don’t take chances with your data – take action to protect it:
Properly wipe or destroy old hard drives
Bring in a professional for your hardware upgrades
